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Statement of Asif A. Khan, Dir., Financial Management and Assurance, GAO. Given the federal government's continuing fiscal challenges, it is more important than ever that the Congress, the administration, and federal managers have reliable, useful, and timely financial and performance information to help ensure fiscal responsibility and demonstrate accountability, particularly for the federal government's largest department, the Department of Defense (DOD). GAO has previously reported that serious and continuing deficiencies in DOD's financial management make up a major impediment to achieving an opinion on the U.S. government's consolidated financial statements. This statement focuses on (1) the effect of continuing financial management challenges on DOD management and operations; and (2) DOD's efforts to improve financial management and its remaining challenges. This is a print on demand report.